We recently acquired a fixer upper by buying it 'subject to.' It has been cash flowing $495/mo for the past six months. Its time for a cash out refi. The lender tells me the title of the house needs to be in my personal name, not my LLC. Also, the financing will be set up as my personal, not LLC.

This is my first BRRR and would like to hear from experienced investors the proper way to handle the financing and title work for the property.

I am buying this with a partner, who is a family member and in the LLC with me. We own other properties together as well.

Thanks for the wisdom and THANK YOU BIGGER POCKETS!

@Chris Scarcello you have to option, put it in your name or find a lender that does investment properties and lends to an LLC. Your rights will be a little higher on the LLC loan.

A conventional mortgage will give you a longer term and bette rates (15/30yr, 4.3% or so) but require the property to be owned individually.

If owner by an LLC, you’d be looking for a commercial loan which will have shorter terms (with balloon) and higher rates. But it will work for your legal arrangement.

As far as I know, there supposedly used to be banks that would make a conventional mortgage to an LLC owned property, but I certainly haven’t found one - and I have a feeling that was from a bygone era (a couple years ago)